LightSquared Judge OKs $33M Loan From Dish Chair, Lenders

By Maria Chutchian

Law360, New York (February 04, 2014, 4:38 PM ET) -- LightSquared Inc. on Tuesday received a judge’s approval of a $33 million loan backed by hedge funds, including one controlled by Dish Network Corp. Chairman Charles Ergen, allowing LightSquared to operate for the next few months as it continues to seek a way out of bankruptcy.

Despite lengthy arguments over language included in the loan documents relating to how fees would be paid with respect to the Ergen investment vehicle, SP Special Opportunities LLC and the other hedge funds making up an ad hoc group of...